HA's most read posts of 2010

8. Rand still has significant strengthening potential

Indeed, it does.  As the R/$ fast approaches 6.50 on new year’s eve 2010, something we were predicting back in late 2009, everyone wants to know how much the value of their Rand savings will gain in 2011.  HA view: levels of 5.00-5.50 look very likely for the R/$ toward end 2011.

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7. FIFA 2010: It’s our party and we’ll spend if we want to

And spend on the public credit card we did, barely getting a bounce in economic activity, and actually just diverting resources from building schools and homes to stadiums and B&Bs.  What a grand waste of resources.

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6. Are low interest rates and a weaker Rand really better for the economy?

It should be clear by now that the answer is NO!  Here’s why.

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5. The most expensive entertainment on the planet

The FIFA world cup, that was.  Nope, we haven’t paid for it yet.  Don’t forget to save for the interest portion of the bill…

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4. Counterfeit warning

The SARB R200 note very quickly fell out of favour, within weeks you couldn’t exchange a R200 for any goods or services just about anywhere in the country. Reason: because counterfeiters were sending counterfeit R200 notes from somewhere in Lesotho.   But what happens when the public realises that the South African Reserve Bank is the biggest counterfeiter in the country?  Paper money and nickel coins will fall out of favour within weeks as well.  Be forewarned.

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3. You can’t leave your hat on.

As a private citizen of the US, you will be arrested for possession of or participation in child pornography.  As a government TSA official (transport and security administration), you are given an x-ray machine so you can look at minors in the nude.  Double standards much?  Guess what kind of person will be applying for jobs at the TSA in the future.

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2. Killing the saving goose that lays the golden consumption egg

Contrary to popular economic opinion, saving is good and spending is bad.  Not your economic opinion, that of economists, that is..  Anyone can be and is a capitalist when he underconsumes.  Even the poorest of the poor.  The key to capitalism and wealth creation lies in giving up present- for future goods.

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1. Abstraction and destruction: The fate of paper money

As money becomes less and less tangible, governments have taken the opportunity to set us well down the path of hyperinflation.  Unless the course is changed, hyperinflation remains in our future.  Precious metals gold, silver and platinum will be our monetary saviour.

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